Intrinsic Therapeutics puts a new man in charge

Intrinsic Therapeutics named Wright Medical (NSQD:WMGI) veteran Cary Hagan as its new President & CEO. Greg Lambrect, founder of Intrinsic will stay on as executive director.

"Cary’s proven success in bringing new technologies to the global market makes him an ideal choice to lead Intrinsic’s next stage of growth as we expand our international clinical and commercial activity," said Lambrecht in prepared remarks.

The company won CE Mark approval in the European Union for its Barricaid annular prosthesis in April 2009. The device is a partial-disc prosthesis that enables surgeons to reconstruct the annulus (a fibrous ring around the edge of the intervertebral disc) during standard discectomies in patients with lumbar disc herniations and sciatica.

Sign up to get our free newsletters delivered right to your inbox.

"The Barricaid device has the potential to substantially reduce cases of recurrent herniation and back pain associated with failed discectomy — an outcome that could result in a multi-billion dollar economic benefit in the U.S. alone. I’m thrilled to join Intrinsic as we bring this revolutionary device into new global markets," Hagan added.

Hagan was let go from Wright Medical in May in wake of the company’s alleged kickbacks scheme.

Here’s the latest personnel changes from medical device, diagnostics and life science companies around the nation. For more recent hirings and firings, check out MassDevice’s compilation of the latest personnel moves.